Muthoot Capital Services reports net profit at Rs 26 cr in Jan-Mar quarter

Non-bank lender Muthoot Capital Services reported a profit of Rs 25.96 crore for the March quarter.

The listed entity of Muthoot Pappachan Group reported a loss of Rs. 151.83 crore in the period last year.

Total income grew by 7 per cent to Rs.115.6 crore in the report quarter, compared to Rs.109.16 crore in the year-ago period.

For the full financial year, the company recorded a net profit of Rs. 78 crore as against a loss of Rs. 161 crore in FY22. The amount disbursed in FY23 increased by 15% to Rs.1,318 crore in the year ended 31st March 2023. Total assets were Managed ₹2,102 crore as on 31st March.

Managing Director Thomas George Muthot said the company has improved across all key metrics, recording strong growth in income as well as profitability.

He said net defaulted assets are below the industry average and post-Covid writers have performed well.

Its CEO Matthews Marcuse said fiscal ’23 was a consolidation year for the company.

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First published: May 22, 2023 | 10:06 p.m ist